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Left in the dark - Seeking to appoint a voluntary administrator when Board relations crumble

This week’s TGIF considers the case ofIn the matter of Bean and Sprout Pty Ltd [2018] NSWSC 351, an application seeking a declaration as to the validity of the appointment of a voluntary administrator.

What happened?

On 7 December 2018, Mr Kong Yao Chin (Chin) was purportedly appointed as the voluntary administrator of Bean and Sprout Pty Ltd (Company) by a resolution of the Company.

Australia, New South Wales, Company & Commercial, Insolvency & Restructuring, Litigation, Corrs Chambers Westgarth, Board of directors, Corporations Act 2001 (Australia), New South Wales Supreme Court
Re Run of Re Amerind - Part 2: Circulating Security Interests and Circulating Assets

This week’s TGIF is the second of a two-part series considering Commonwealth v Byrnes [2018] VSCA 41, the Victorian Court of Appeal’s decision on appeal from last year’s Re Amerind decision about the insolvency of corporate trustees.

Australia, Insolvency & Restructuring, Litigation, Corrs Chambers Westgarth
Important amendments to the Bulgarian Commerce Act

We saw important amendments to the Bulgarian Commerce Act (the “Act”) come to life at the very end of 2016, most notably regarding:

Notary certifications – currently in effect

Bulgaria, Company & Commercial, Insolvency & Restructuring, CMS Cameron McKenna Nabarro Olswang LLP
Changes to insolvency procedure

A number of changes have been made to insolvency procedure to remove various discrepancies and controversial practices:

Bulgaria, Insolvency & Restructuring, CMS Cameron McKenna Nabarro Olswang LLP, Bankruptcy, Costs in English law, Debtor, Debt, Secured creditor, Capital punishment